Beauty / news
VMG Partners Takes Minority Stake in Miss A at $672M Valuation as Dollar Beauty Chain Chases $1B in Sales
VMG Partners has bought an undisclosed minority stake in Miss A, valuing the Dallas-based dollar beauty retailer at 1 trillion Korean won, or about $672 million at the deal's close. The chain, which runs 100 mall stores in 23 states, is targeting $1 billion in annual sales by 2030.
The investment marks the first outside capital for a company that had been bootstrapped since its founding, and it hands VMG a stake alongside founders Jean Baik, who serves as chief product officer, and CEO Kenneth Baik. The couple keeps majority ownership and stays in their current roles.
Miss A built its business on sharply priced proprietary lines, with most makeup, beauty tools and accessories selling between $1 and $1.88. It currently operates 100 mall locations across 23 states and expects to reach 200 stores by the end of 2027, then 500 to 550 by 2030.
Growth has been fast. Sales rose 34% in 2024 and 58% in 2025, more than doubling over the two years, after the retailer projected it would top $100 million in 2025 revenue. By July 2026 it had already exceeded full-year 2025 sales, with the holiday season still to come, according to Jean Baik.
Baik said the company had always planned to bring in a minority partner around its 100th store, the point at which expansion is set to accelerate and the brand can be built jointly with an investor.
VMG's beauty portfolio already includes Vacation, The Doux, Danessa Myricks Beauty, Kosas, Snif and Tone. The firm typically writes checks of $10 million to $200 million into consumer businesses with at least $10 million in annual revenue.